Cryptocurrency Market Analysis [January 24]

Practical Cryptocurrency Investment Article January 24

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【Cryptocurrency Market Analysis】

From last week, the price changes of cryptocurrencies

over a week are summarized as follows

Summary: Current price (change from a week ago)

※From this time, we will use US dollar notation.

（Since most information about cryptocurrencies comes from overseas, dollar notation is easier to express）

※1Dollar =149yen

Bitcoin38,635dollars (-9.7%)

Ethereum2183dollars(-13%）

Solana80dollars(16%)

Bitcoin is at the same level as last week’s price.

Bitcoin daily chart

Considering the current Bitcoin price

○Target price is $45,000 (6.6 million yen)

○Break above the 200-day moving average

BitcoinETFwas briefly raised to $48,000 due to approval, but subsequently fell sharply and finally dropped below $40,000.

A strong drop, indeed.

The factors cited for this decline include.

・Selling pressure from Grayscale’sGBTCthat marketed Bitcoin investment trust（Grayscale Bitcoin Trust）

・Bankruptcy ofFTXwhich held Grayscale’sGBTCassets

These factors are being discussed.

BitcoinETFis being bought, so there is buying pressure, but it is being overwhelmed by selling pressure.

BitcoinETFPeople who bought Bitcoin when the Bitcoin ETF was approved, and those who bought the BitcoinETFhave endured a severe shakeout.

And for Bitcoin, a halving is scheduled for April.

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（This article has been distributed since 2016）